Definitions for "Set-off"
That which is set off against another thing; an offset.
Same as Offset, n., 4.
See Offset, 7.
A counterclaim; a cross debt or demand; a distinct claim filed or set up by the defendant against the plaintiff's demand.
a defence which a Respondent may use to reduce the amount of money the Claimant is suing him for
a debtor's right to reduce the amount of a debt by any sum the creditor owes the debtor.
In architecture and masonry, the term set-off is given to the horizontal line shown on a floorplan indicating a reduced wall thickness, and consequently the part of the thicker portion appears projecting before the thinner. In plinths, this is generally simply chamfered. In other parts of stonework, the set-off is generally concealed by a projecting stringer.
That which is used to improve the appearance of anything; a decoration; an ornament.
Keywords:  inputs, paid, tax, credit
Credit for the Tax paid on inputs.